BAKU, Azerbaijan, Mar.18
Trend:
Deputies of the Senate (Upper House) of Kazakhstan’s Parliament approved the bill ‘On ratification of Agreement on principles of tax policy for excise taxes on tobacco products of EAEU (Eurasian Economic Union) member states’, Trend reports referring to the country’s Energy Ministry.
"The draft agreement envisages the application of the indicative rate and ranges of deviations from it since 2024, empowering the Eurasian Economic Commission Council to approve indicative excise rates and change them in case of justified economic necessity," Minister of National Economy of Kazakhstan Asset Irgaliyev said at a meeting of the senate.
At the same time, the convergence of excise rates will be carried out from 2024. A single indicative rate and a range of deviations from it will be established every five years.
According to the minister, the indicative rate for cigarettes for the mentioned year was set in the national currency tenge at the equivalent of 35 euro per 1,000 pieces. Actual rates of excise taxes on cigarettes may deviate from the indicative rate in three years by no more than 20 percent upward and downward.
"The bill will provide additional revenues to the budget through increasing the rate of excise taxes on tobacco products. The agreement will provide a unified practice of applying excise taxes on the products in the territory of the EAEU's member states," concluded Irgaliyev.